PETDAG dropped RM1.46 (-6.38%) to close at RM21.42 yesterday.
Chart-wise, the share has been trading downward after it broken below the key SMAs on July-2019.
Yesterday, the share has formed a bearish engulfing candlestick pattern with a long body engulfing the previous three candlesticks indicating a strong selling pressure over the stock. We believe the share could continue to move downward in view of strong market sell down.
Should the downside momentum continue, the support levels can be found at RM21.00 (S1) and RM20.00 (S2).
Conversely, resistance levels can be found at RM24.00 (R1) and RM25.00 (R2).
PENTA (Not Rated)
PENTA gained 4.0 sen (+1.15%) to end at RM3.53 yesterday.
Chart-wise, the share continues to trade above the upward trend line follow by key SMAs continue to slope upward.
On the other hand, MACD indicator showing bullish sign while stochastic was ranging in the oversold zone, hence, we believe the share could continue to move upward.
Should buying momentum persist, overhead resistances can be seen at RM3.60 (R1) and RM3.76 (R2).
Conversely, key support levels can be seen at RM3.17 (S1) and RM3.00 (S2).
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